According to the most recent financial results issued by twenty-one major steel producing companies in China, in the first half of the current year the total sales income of these companies came to RMB 361 billion ($57 billion), rising by 27.58 percent compared to the same period of last year. At the same time, the net profit of these companies reached RMB 7.5 billion, down 16 percent year on year, mainly attributed to the remarkable slump in the net profits of Liaoning Province-based Anshan Steel Corporation and Anhui Province-based Maanshan Steel Corporation.
In H1 this year, Anshan Steel's net profit was RMB 220 million ($35 million), decreasing by 92 percent year on year. Meanwhile, the net profit of Maanshan Steel in the same period amounted to RMB 310 million ($49 million), declining by 70 percent year on year. The aggregate net profit of the remaining nineteen companies marked a year-on-year growth of 36.27 percent